Pound Sterling Price News and Forecast: GBP/USD is at a crossroads on the charts
|GBP/USD meets critical resistance ahead of BoE
At 1.3440, GBP/USD is firm in Asia but is facing a wall of technical resistance in the build-up to the Bank of England this Thursday. There are hawkish expectations that have been priced into sterling but the improving trend in net GBP positions has come to an abrupt halt, as analysts at Rabobank explained in a note on Tuesday.
GBP/USD Price Analysis: Bulls need validation from 1.3450 immediate hurdle
GBP/USD holds onto the previous day’s resistance break around 1.3440-45 during a quiet start to Tuesday’s Asian session. The cable pair rose past a downward sloping trend line from January 14 following its bounce off the 61.8% Fibonacci retracement (Fibo) of December 2021 to January 2022 upside.
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